HomeMARKETSSMART MONEYRotich urges Kenyans to embrace saving tradition

Rotich urges Kenyans to embrace saving tradition

Association of Savings Banks of East Africa (ASBEA) has urged Kenyans to embrace saving culture through digitalisation of the country’s economic empowerment.

In a speech read on his behalf by the Investment Secretary Esther Koimett on Wednesday, National Treasury Cabinet Secretary Henry Rotich stated that Kenya’s development blue print has made savings a critical component towards achievement of over 25% of the GDP.

Rotich stated that Kenya is currently experiencing digital advancements which have led to achievement of the strategic objective of financial inclusion and alternate delivery channels like internet based branchless banking, which have emerged as supportive pillars.

The CS explained that the advancement in technology has enabled new business models, customer centric products, innovations and formation of new alliances in the banking sector across East Africa.

 Post Bank Managing Director Ann Karanja said the banking institution continues to command impressive product portfolio that was technologically driven.

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 Karanja said ASBEA is at an  advanced stage of developing cross border financial system that will offer flawless service across the three member banks in a more convenient and cost effective manner .

The MD emphasised on the need for the banks to continue seeking opportunities to fully optimize their potential through modernisation to accommodate customer needs.

The bank has physical presence in all 47 counties thus enhancing financial inclusion in line with Kenya’s Vision 2030. Currently Post bank boasts of a network of 101 branches and over 1,000 PostBank “Mashinani” Agent locations.

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